You are here

Malaysia market dives as foreigners trim holdings

There are also concerns fiscal deficit targets may not be met due to oil price plunge

BT_20141216_PNDROP16_1413827.jpg
Analysts say the economy is resilient enough to weather the drop in oil prices and a reduction in fuel subsidies could offset the fall in oil revenue.

Kuala Lumpur

AS oil prices continued to slip, foreigners concerned over Malaysia's fiscal position trimmed equity holdings to push the stock market 2 per cent lower and just below the psychological 1,700 level.

Analysts warned of further headwinds. The freefall in oil prices has